August 14, 2022

La Ronge Northerner

Complete Canadian News World

Draft Kings, Rocco, Deere and others

Draft Kings, Rocco, Deere and others

Check out the companies making headlines before the bell:

kings (DKNG) — The sports betting company’s stock is down 13.2% in the primary market, despite less-than-expected quarterly losses and better-than-estimated revenue. DraftKings expects a wider-than-expected adjusted loss for the full year as costs continue to rise.

Rocco (ROKU) — Shares of Roku are down 26% in premarket, despite better-than-expected earnings for the fourth quarter. The video streaming hardware manufacturer’s revenue was lower than analysts’ expectations, and it issued a weaker-than-expected outlook due to higher component prices and supply chain disruptions.

Bloomin Brands (BLMN) — The restaurant operator beat estimates by nearly 8 cents with adjusted quarterly earnings of 60 cents per share, with revenue just above consensus. The parent company of Outback Steakhouse and other chains reinstated its quarterly dividend and announced a new $125 million share buyback program. The stock is up 6.6% in a pre-market move.

monastery (DE) – The heavy equipment manufacturer reported quarterly earnings of $2.92 per share, well above expectations of $2.26, with revenue also exceeding analyst expectations. The company also raised its annual profit forecast amid strong demand and higher prices.

Shake Shack (SHAK) — Shake Shack reported an adjusted quarterly loss of 11 cents per share, narrower than analysts had expected a loss of 11 cents, while the restaurant chain’s revenue lined up with Wall Street expectations. Shake Shack said the omicron variant kept customers away and led to some restaurants temporarily closing. It also issued a downbeat forecast for the current quarter amid rising costs. Shake Shack stock was down 15.5% in pre-market trading.

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drop box (DBX) – Dropbox beat estimates by 4 cents with adjusted quarterly earnings of 41 cents per share, and software revenue topped Street expectations. Paid user numbers and average revenue per user also came in above consensus, but the stock is down 6.3% in pre-market actions as its guidance for the current quarter’s profit margin is slightly lower than expected.

DuPont (DD) – DuPont has closed a deal to sell the majority of its materials unit to the specialty materials manufacturer Celanese (CE) in an $11 billion deal. DuPont stock jumped 4.1% in the primary market while Celanese gained 3.8%.

The pride of the pilgrim (PPC) – Pilgrim’s Pride tumbled 14.8% in pre-market trading after Brazilian meatpacking company JBS She dropped her plans to buy the part of the poultry product she didn’t own. JBS owns an 80% stake in Pilgrim’s Pride, but the two sides have yet to agree terms of a deal for the remaining 20%.

Intel Corporation (INTC) — Intel CEO Pat Gelsinger told an investor gathering that the chip maker aims to achieve double-digit annual revenue growth within three to four years. Gelsinger also said Intel might be interested in participating in a potential consortium if one were formed to buy British semiconductor company ARM Ltd. Intel shares are down 1% in pre-market trading.

Norton Live Look (NLOK) — NortonLifeLock has pushed the expected completion date of its deal to buy rival cybersecurity company Avast to April 4 from February 4. 24, saying it is still awaiting regulatory approvals in the UK and Spain. NortonLifeLock is down 1% in the market.

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